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Board of Directors Meeting Board of Directors Meeting Agenda and Meeting Book THURSDAY, DECEMBER 5, 2019 FROM 08:30 AM TO 11:30 AM WATERFRONT TORONTO 20 BAY STREET, SUITE 1310 TORONTO, ON, M5J 2N8 Meeting Book - Board of Directors Meeting Agenda 8:30 a.m. 1. Motion to Approve Meeting Agenda Approval S. Diamond 8:35 a.m. 2. Declaration of Conflicts of Interest Declaration All 8:40 a.m. 3. Chair’s Opening Remarks Information S. Diamond 8:50 a.m. 4. Consent Agenda a) Draft Minutes of Open Session of the October 10 and 24, 2019 Board Approval All Meeting - Page 4 b) Draft Minutes of Open Session of the October 31, 2019 Board Approval All Meeting - Page 11 c) CEO Report - Page 15 Information G. Zegarac d) Finance Audit and Risk Management (FARM) Committee Chair's Information K. Sullivan Open Session Report - Page 44 e) Human Resources, Governance and Stakeholder Relations (HRGSR) Information S. Palvetzian Committee Chair's Open Session Report - Page 47 f) Investment, Real Estate and Quayside (IREQ) Committe Chair's Open Information M. Mortazavi Session Report - Page 48 9:00 a.m. 5. Port Lands Flood Protection (60% Design Stage Gate Status Approval D. Kusturin Update) Cover Sheet - Page 49 Presentation is attached as Appendix A to the Board Book 9:15 a.m. 6. Waterfront Toronto Priority Projects - Construction Update Information D. Kusturin Cover sheet - Page 50 Presentation is attached as Appendix B to the Board Book 9:30 a.m. 7. Motion to go into Closed Session Approval All Closed Session Agenda The Board will discuss items 8, 9 (a), (b), (c), (d) & (e) , 10, 11 and 12 and 13, being Status Update on Auditor General Report - WT Response to Standing Committee on Public Accounts, consideration of the draft Minutes of the Closed Session Oct 10 & 24, 2019 and Oct 31, 2019 meetings, the HRGSR Committee Chair’s Closed Session Report, the FARM Committee Chair’s Closed Session Report, the IREQ Committee Chair’s Closed Session Report, the Rolling Five-Year Strategic Plan (2020/2021 – 2024/25), Divestiture – District Energy Assets (West don Lands), Quayside Update and the Board Closed Session Discussion respectively, in Closed Session as permitted by By-Law No.2 of the Corporation. The exceptions relied for the discussion of item 8 in Closed Session is Section 6.1.1(i), for Page 2 of 51 items 9 (a) and (b) is provided in item 4(a) and (b) of this agenda, for item 9(c) is Section 6.1.1(b), for item 9(d) is Section 6.1.1(a), for item 9(e) is Section 6.1.1(a), for item 10 is Section 6.1.1(a), for items 11 and 12 is Section 6.1.1(l) and for item 13 is Section 6.1.1(b) of By-Law No. 2. The Board will continue in Open Session at the end of the Closed Session to discuss and vote on any resolution(s) pertaining to the Closed Session. 11:15 a.m. 14. Motion to go into Open Session Approval All Public Session Agenda 11:20 a.m. 15. Resolutions Arising from the Closed Session Approval All Draft - Resolutions Arising from the Closed Session - Page 51 11:25 a.m. 16. Chair’s Closing Remarks Information S. Diamond 11:30 a.m. 17. Motion to Terminate the Meeting Approval All Page 3 of 51 MINUTES of the Open Session Meeting of the Board of Directors of the Toronto Waterfront Revitalization Corporation 20 Bay Street, Suite 1310, Toronto, Ontario Thursday, October 10, 2019 at 8:30 a.m. local time. PRESENT: Stephen Diamond (Chair) Mazyar Mortazavi Jeanhy Shim Sevaun Palvetzian Councillor Joe Cressy (by phone) Kevin Sullivan Patrick Sheils Wende Cartwright Jack Winberg Michael Galego Christopher Voutsinas ABSENT: Andrew MacLeod IN ATTENDANCE WATERFRONT TORONTO George Zegarac (Chief Executive Officer) David Kusturin (Chief Project Officer) Lisa Taylor (Chief Financial Officer) Chris Glaisek (Chief Planning and Design Officer) Meg Davis (Chief Development Officer) Julius Gombos (Senior Vice President, Project Delivery) Cameron MacKay (VP, Strategic Communications and Engagement) Rose Desrochers (VP, Human Resources and Administration) Leslie Gash (Senior Vice President, Development) Kristina Verner (VP Innovation, Sustainability and Prosperity) Erik Cunnington (Director Development) Kevin Greene (Project Management Director) Kathleen Niccols (Senior Vice President, Corporate Strategy) Catherine Murray (Senior Legal Counsel) Ian Ness (Acting General Counsel) Ed Chalupka (Director, Government Relations) Aina Adeleye (Board Administrator and Legal Assistant) Also in attendance for part or all of the meeting were: David Stonehouse, Director, Waterfront Secretariat, City of Toronto. Adam Reddish, Assistant Deputy Minister, Ministry of Infrastructure. Nancy Faraday-Smith (by phone), Acting Director, and Shawn Tippins (by phone), Senior Analyst, from Investment, Partnership and Innovation Branch of Infrastructure Canada. Abraham Costin, Legal Adviser, McCarthy Tétrault LLP 1 Page 4 of 51 Mathew Bennett, Partner, N. Barry Lyon Consultants Limited (NBLC) Catherine McIntyre, Author and Reporter, The Logic. James McLeod, Author, the Financial Post. The Chair, Stephen Diamond, took the chair and appointed Ian Ness to act as secretary of the meeting. With notice of the meeting having been sent to all Directors in accordance with the Corporation’s By-laws and a quorum of Directors being present, the Chair called the meeting to order at 8:32 a.m. and declared that the meeting was duly constituted for the transaction of business. 1. Motion to Approve Agenda The Board agreed that the Agenda be revised so that all items to be considered in the Closed Session be taken as the first items of the day and the agenda be renumbered accordingly. ON MOTION duly made by Councillor Joe Cressy, seconded by Jeanhy Shim and carried, it was RESOLVED that the Agenda for the October 10, 2019 meeting be approved, as presented. 2. Declaration of Conflicts of Interest There were no conflicts of interest declared. 3. Motion to go into Closed Session In accordance with By-Law No. 2 of the Corporation and ON MOTION made by Kevin Sullivan, seconded by Sevaun Palvetzian and carried, the Board RESOLVED to go into Closed Session to discuss items 4 and 5 (a) (b) and (c), and 6. The exception to the Open Meeting Law relied on for the discussion of item 4 in Closed Session is Section 6.1.1(l), the exceptions for for items 5 (a) and (b) are provided in the minutes of the open session of the June 27, 2019 and July 31, 2019 meetings of the Board of Directors respectively, the exception for item 5 (c) is Section 6.1.1(l) and for item 6 is Section 6.1.1(b) of By- Law No. 2. The Chair requested that members of the public exit the meeting. 4. Investment, Real Estate and Quayside (IREQ) Committee Chair’s Report Closed Session 5. Consent Agenda a) Draft Minutes of the Closed Session June 27, 2019 Meeting b) Draft Minutes of the Closed Session July 31, 2019 Meeting c) Human Resources, Governance and Stakeholder Relations (HRGSR) Committee Chair’s Report – Closed Session 2 Page 5 of 51 6. Board Closed Session Discussion 7. Motion to go into Open Session ON MOTION made by Jeanhy Shim, seconded by Wende Cartwright and carried, the Board RESOLVED to go into Open Session. The Chair requested that members of the public rejoin the meeting. 8. Resolutions Arising from the Closed Session ON MOTION duly made by Sevaun Palvetzian and seconded by Mazyar Mortazavi and carried, it was RESOLVED that the Board approves the recommendations of the Investment, Real Estate and Quayside Committee as discussed in the Closed Session. ON MOTION duly made by Patrick Sheils and seconded by Jack Winberg and carried, it was RESOLVED that the Minutes of the Closed Session of the Board of Directors meetings held on June 27, 2019 be approved, as tabled. ON MOTION duly made by Wende Cartwright and seconded by Jack Winberg and carried, it was RESOLVED that the Minutes of the Closed Session of the Board of Directors meetings held on July 31, 2019 be approved, as tabled. 9. Consent Agenda ON MOTION duly made by Patrick Sheils and seconded by Jack Winberg and carried, it was RESOLVED that the Minutes of the June 27, meeting of the Board of Directors be approved as presented. ON MOTION duly made by Wende Cartwright and seconded by Jack Winberg and carried, it was RESOLVED that the Minutes of the July 31, meeting of the Board of Directors be approved as presented. The CEO Report, the HRGSR Committee Chair’s Open Session report and the IREQ Committee Chair’s Open Session Report were received and taken as read for information. 10. Chair’s Remarks The Chair highlighted the remaining items for consideration at the meeting. 11. Appointment of the Chair of the Finance, Audit and Risk Management (FARM) Committee ON MOTION duly made by Mazyar Mortazavi and seconded by Wende Cartwright and carried, the Board RESOLVED that Kevin Sullivan be appointed as the Chair of the FARM Committee. 3 Page 6 of 51 12. Delegations of Authority Management presented the revised Delegations of Authority of the corporation which the Board took as read. ON MOTION duly made by Wende Cartwright and seconded by Jack Winberg and carried, it was RESOLVED that the revised Delegations of Authority be approved as presented. 13. Chair’s Closing Remarks The Chair thanked everyone for attending the meting. He reminded everyone that, as agreed during the discussions on item 4 (IREQ Committee Chair’s Closed Session Report) in the Closed Session, the day’s meeting will be adjourned to October 24, 2019 to reconvene and continue discussions on the item.
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